Kaspa on-chain data is showing increased activity, with significant accumulation occurring from large holders, often referred to as whales. According to Kaspa Daily, one of the network’s largest wallets recently acquired 154 million KAS directly from the Gate.io exchange. This transaction propelled the wallet's total holdings to over 1.1 billion KAS, making it the largest Kaspa wallet currently on record.
While the identity of this wallet remains unconfirmed, the substantial size of the transaction suggests potential institutional involvement. Such significant capital inflows are often interpreted as smart money positioning ahead of anticipated market movements.
🚨 Wallet Update:
— Kaspa Daily (@DailyKaspa) October 21, 2025
The address that used to be Kaspa #2 largest holder just added 154 million KAS, funds that came directly from Gate io.
It has now become the top Kaspa holder with total balance exceeding 1.103 billion KAS.
Ownership remains unknown, but the scale of the… pic.twitter.com/7eivdFea4c
Whales Are Quietly Loading Up
The trend of large-scale accumulation is not isolated to a single wallet. The number of addresses holding at least 1 million KAS has been on an upward trajectory, recently surpassing 3,040 addresses. This represents a notable increase from earlier in the month, indicating that medium-sized investors, which can include early institutional players, are actively accumulating KAS at current price levels.
This pattern of accumulation typically signifies growing confidence in the asset. When multiple whales and significant holders engage in buying activity, it can lead to a "supply squeeze," where fewer coins are available on exchanges while demand continues to grow. This scenario is often a precursor to substantial price movements.
The number of addresses holding 1 million $KAS or more is rising again, indicating that medium-sized investors are accumulating at current price levels. pic.twitter.com/2skYw4sCEU
— Kaspa Daily (@DailyKaspa) October 21, 2025
Signs of a Supply Shock Are Emerging
On-chain balance charts support the narrative of increasing accumulation. The total holdings of top Kaspa wallets have recently surged from approximately 960 million to over 1.1 billion KAS within a single day. This type of activity is more indicative of coordinated accumulation by large entities or funds rather than typical trading behavior.
When a significant amount of supply is moved from exchanges into long-term wallets, it can reduce immediate selling pressure. Coupled with the consistent growth in the number of holder addresses, Kaspa appears to be positioning itself for a potential supply crunch.
This quiet accumulation phase is often how bull runs begin, developing behind the scenes rather than through immediate market hype.
Kaspa remains firmly in the top 10 most bullish projects by sentiment on CoinMarketCap and it’s been there consistently for months.
— Kaspa Daily (@DailyKaspa) October 21, 2025
Market prices can fluctuate, but strong fundamentals and community conviction tend to stand the test of time.
Holders seem focus on what’s being… pic.twitter.com/Fu0gmGWJzP
The sustained high ranking in community sentiment, as reported by CoinMarketCap, highlights strong conviction among investors. This suggests that participants are prioritizing Kaspa's fundamental strengths, including its DAG-based architecture, rapid block times, and increasing developer activity, over short-term speculation. The focus appears to be on the project's long-term vision.
KAS Price Outlook: What Happens Next
Kaspa is currently trading around $0.09, with bullish momentum gradually rebuilding. If the current accumulation pace continues, the price could stabilize above current levels and potentially retest the $0.10–$0.11 range in the near future.
Significant whale accumulation often acts as a stabilizing force against volatility. When large wallets are actively buying during price dips, retail investors may follow suit, potentially triggering a rally.
However, large inflows can also indicate preparation for long-term holding rather than immediate price breakouts. In such cases, Kaspa's price might experience consolidation before its next significant upward movement.
The renewed accumulation by Kaspa's whales, evidenced by the rising number of large holder addresses and substantial KAS transfers, points to a growing confidence in the project's long-term prospects.
The current trend suggests that significant market participants are increasing their control over Kaspa's supply.
Historically, these periods of quiet accumulation have often preceded strong upward price movements once the broader market recognizes the underlying activity.